Canadian packaging company CCL Industries has signed an agreement to acquire John Watson & Company, a label converter in Glasgow, Scotland, through the purchase of shares.
The acquisition is said to complement the global network of CCL Label Wine & Spirits operations in countries including Australia, Asia, Latin America, Russia, South Africa, the UK and the US.
CCL Industries president and CEO Geoffrey Martin said the company plans to support the acquisition with further investment in the operation in Glasgow.
"The Wine & Spirits sector continues to be attractive for us as we have built our business by a series of acquisitions, joint ventures and greenfield investments around the world," Martin said.
Upon completion of the transaction expected in early 2014, the acquired company will change its trading name to CCL Label and become a part of the global Wine & Spirits network.
Both CCL Industries and John Watson will cooperate to serve common customers and leverage combined supplier relationships in the interim period.
